I don’t know what is right and what is wrong regarding trade. It is very complex and many crosscurrents as well, including political crosscurrents.
The real answer is to let the ‘invisible hand’ determine trade flows, money flows, information flows, but that is never going to happen; simply not realistic.
But I will say that however it is accomplished, the United States needs to largely produce what it consumes, especially in critical areas like steel, rare earths, etc. And having a large and vibrant middle class is absolutely essential.
Without the middle class, the USA will exist in name only.
“(I)n general, the protective system of our day is conservative, while the free trade system is destructive—it breaks up old nationalities and pushes the antagonism of the proletariat and the bourgeoisie to the extreme point. In (other) word(s), the free trade system hastens the social revolution. It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade.”Hope that clears up what is right and what is wrong here. (For some of the things on the communist goal list, one can replace “communist” with ”Islamic”.)
— Karl Marx
— From the list of 45 communist goals for the USA
- Permit free trade between all nations regardless of Communist affiliation and regardless of whether or not items could be used for war.
- Extension of long-term loans to Russia and Soviet satellites.
- Provide American aid to all nations regardless of Communist domination.
- Grant recognition of Red China. Admission of Red China to the UN. …